CAKE Price Rally Gains Momentum as 556K Tokens Burned—Can PancakeSwap Break $1.60?

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The post CAKE Price Rally Gains Momentum as 556K Tokens Burned—Can PancakeSwap Break $1.60? appeared first on Coinpedia Fintech News

CAKE price is knocking on the door of $1.60, and the supply backdrop is getting tighter. PancakeSwap’s native token has climbed to around $1.53, putting a key resistance zone within striking distance just as its burn mechanism removes 556,000 CAKE worth nearly $812,000 from circulation. As CAKE price is now approaching breakout zone with a …